Gulf International Bank UK Ltd Reduces Stake in Bristol-Myers Squibb (NYSE:BMY)

Gulf International Bank UK Ltd reduced its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 161,386 shares of the biopharmaceutical company’s stock after selling 1,686 shares during the period. Gulf International Bank UK Ltd’s holdings in Bristol-Myers Squibb were worth $9,127,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Reston Wealth Management LLC acquired a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $25,000. Hollencrest Capital Management grew its position in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. Hollencrest Capital Management now owns 492 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 187 shares during the period. Kennebec Savings Bank purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Bristol-Myers Squibb by 1,168.1% in the 3rd quarter. Valued Wealth Advisors LLC now owns 596 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 549 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BMY. BMO Capital Markets boosted their price objective on Bristol-Myers Squibb from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Tuesday, November 12th. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 12th. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $73.00 in a research report on Tuesday, November 12th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America reiterated a “neutral” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $57.86.

Insider Buying and Selling at Bristol-Myers Squibb

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of Bristol-Myers Squibb stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the purchase, the executive vice president now directly owns 63,932 shares of the company’s stock, valued at $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 1.5 %

Bristol-Myers Squibb stock opened at $57.34 on Thursday. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The stock has a 50-day simple moving average of $57.06 and a 200 day simple moving average of $54.58. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $61.10. The stock has a market capitalization of $116.35 billion, a P/E ratio of -12.97, a PEG ratio of 2.07 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. Analysts expect that Bristol-Myers Squibb will post 6.74 earnings per share for the current year.

Bristol-Myers Squibb Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.48 annualized dividend and a dividend yield of 4.33%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.60. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.